FXStreet (Edinburgh) – EUR/GBP has regained the 0.7300 handle and is now extending its upside to 0.7315/20, or session tops.
EUR/GBP pares recent losses
The European cross is reverting part of the weekly pullback to yesterday’s troughs in the 0.7260 area following a solid performance of the sterling, which managed to climb as high as 1.5550 vs. the US dollar, although the upside run out of legs afterwards.
In the data space, recent mixed results from the UK industrial sector plus an upbeat result in the NIESR GDP Estimate have lent support to the pound. There are no releases scheduled for today in Euroland or the UK, leaving Greek events as the main drivers for the global sentiment once again.
EUR/GBP key levels
As of writing the cross is up 0.24% at 0.7312 with the next resistance at 0.7387 (high Jun.4) ahead of 0.7400 (psychological level) and 0.7419 (high May 1). On the other hand, a breakdown of 0.7284 (low Jun.11) would expose 0.7267 (low Jun.8) and finally 0.7253 (low Jun.3).
(Market News Provided by FXstreet)